Harmon Sporting Goods received a $60,000, 6-month, 10% note from a customer. Four months after receiving the note, it was discounted at a local bank at a 12% discount rate. The cash proceeds received by Harmon were:

I found that the answer was $61,740, but to find the discount, you use the 63,000 that you initially calculate for the maturity value, and multiply that by the 12 percent and 2/12. I'm just curious as to how you figure the 2/12 to find the calculation.